Last Updated :2025/11/23

Quizzes for review

(banking, finance) A loan that is repaid over time with a set number of regularly scheduled payments, and may or may not include a balloon payment. A home loan, a student loan, or an auto loan, for example, may be considered a type of installment loan.

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installment loan

She chose an installment loan to buy a used car, agreeing to monthly payments over five years.

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She chose an installment loan to buy a used car, agreeing to monthly payments over five years.

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